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of the Bonds to be used to refund the Refunded Bonds, together with <br /> other funds available and appropriated to the Escrow Account for <br /> said purpose, will be sufficient, together with the earnings on the <br /> investment of such funds in the Escrow Account, to pay when called <br /> for redemption as herein provided all of the principal of the <br /> Refunded Bonds. <br /> 19. Redemption of Refunded Bonds. The Prior Bonds which <br /> mature in 2001 and thereafter shall be redeemed and prepaid on <br /> February 1, 2000, and, at least 30 and not more than 60 days prior <br /> to said date, the paying agent/registrar for the Prior Bonds is <br /> hereby authorized and directed to cause notice of said redemption <br /> to be given to the owners of the Prior Bonds in the manner required <br /> by law and by the terms of the Prior Bonds. <br /> 20. Escrow Agreement. On or prior to the date of delivery of <br /> the Bonds the Mayor and City Clerk-Administrator shall, and are <br /> hereby authorized and directed to, execute on behalf of the City <br /> the Escrow Agreement substantially in the form heretofore presented <br /> to the City but with such insertions and modifications as shall be <br /> deemed by them to be necessary to accomplish its purposes, as <br /> evidenced by their execution and delivery thereof. All terms and <br /> conditions of such Escrow Agreement, as so executed and delivered, <br /> are hereby approved and adopted and made a part of this Resolution. <br /> 21. Purchase of Securities. Springsted Incorporated, the <br /> City's public finance advisor for the Bonds, is hereby authorized <br /> and directed to purchase or cause to be purchased for and on behalf <br /> of the City and/or the Escrow Agent the appropriate securities <br /> (including United States Treasury Securities) to be placed in the <br /> Escrow Account and to execute all such documents (including the <br /> appropriate subscription form, if applicable) required to effect <br /> such purchase. <br /> 22. Records and Certificates. The officers of the City are <br /> hereby authorized and directed to prepare and furnish to the <br /> Purchaser, and to the attorneys approving the legality of the <br /> issuance of the Bonds, certified copies of all proceedings and <br /> records of the City relating to the Bonds and to the financial <br /> condition and affairs of the City, and such other affidavits, <br /> certificates and information as are required to show the facts <br /> relating to the Bonds as the same appear from the books and records <br /> under their custody and control or as otherwise known to them, and <br /> all such certified copies, certificates and affidavits, including <br /> any heretofore furnished, shall be deemed representations of the <br /> City as to the facts recited therein. <br /> 23. Nectative Covenant as to Use of Proceeds and Improvements. <br /> The City hereby represents that it has not used, and hereby <br /> covenants that it will not use, and that it has not permitted and <br /> will not permit any such uses, the proceeds of the Bonds or the <br /> improvements financed by the Prior Bonds in such a manner as to <br /> 238053 <br /> 19 <br />